Go Long Chinese Currency with CYB

Currency trading is unique among investing. As we noted in our euro recommendation, currencies have moved from obscurity to prominence in a few short years. The foreign exchange market is the largest market in the world with almost $4 trillion changing hands each day – that’s trillion with a “t”. China’s currency will be adding even more to those numbers soon. Chinese currency has had an interesting history. Officially known as the Yuan, it is also called the renmibi. China began issuing the Yuan in 1897 during the Qing Dynasty. It was eventually issued by various provinces and several governments throughout the Middle Kingdom. After World War II, government debts caused Yuan hyperinflation under the Nationalist regime. This event, along with military prowess, helped the Communists gain control of the…